May 31, 2016Business, PressReleaseComments Off on Dwellings growth eases due to lull in apartment consents

Press Release – Statistics New Zealand

Dwellings growth eases due to lull in apartment consents

31 May 2016

Building consents for new dwellings are at a higher level than last year, but growth has eased in recent months, Statistics New Zealand said today.

“The easing trend for new dwellings has been caused by a lull in apartment consents, especially in Auckland,” business indicators senior manager Neil Kelly said. “However, apartment numbers tend to be quite volatile. For stand-alone houses, the trend is still increasing.”

In April 2016, 2,361 new dwellings were consented – up 12 percent from the same month in 2015.

In seasonally adjusted terms the number increased 6.6 percent in April compared with March, although this follows several large fluctuations in recent months.

In April 2016, the regions that consented the most new dwellings were:

• Auckland – 699 (down 213 from the same month in 2015 due to a decrease in apartments)
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• Canterbury – 656 (up 229 due to a jump in retirement village units)
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• Waikato – 261 (up 41 due to growth in new houses).
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Annual dwellings total still at 11-year high

Just over 28,000 new dwellings have been consented over the past year, compared with 25,000 in the previous April year. This is an 11-year high. Most of the growth has been in Auckland and nearby regions, while Canterbury has decreased.

The apartments component has been virtually unchanged over the past year, following strong increases during the previous three years. Houses, townhouses, and retirement village units have continued to increase.

Building consent statistics are an indicator of upcoming building activity. Statistics about building activity in the March 2016 quarter will be published on 3 June 2016.